Federal Reserve Bank of Richmond Releases Regional Economic Snapshot of South Carolina

Labor Market Conditions

• "South Carolina's job growth stalled in June, with a decline of 400 jobs on net. Many industries saw either flat or declining employment." – Bethany Greene

• Payroll employment in South Carolina declined by 400 jobs (0.0 percent), on net, during June. Job losses were led by trade, transportation and utilities (1,300 jobs), professional and business services (1,200 jobs) and education and health services (1,100 jobs). Job losses were partially offset by gains in government employment (2,700 jobs).

• On a yearly basis, payroll employment grew by 18,300 jobs (0.8 percent). Annual job growth was led by education & health services (8,100 jobs), leisure and hospitality (5,600 jobs) and government (4,300 jobs). Overall employment gains were partially offset by annual losses in professional and business services (4,400 jobs), information (2,500 jobs) and trade, transportation and utilities (200 jobs).

• The unemployment rate in South Carolina is currently 4.4 percent, decreasing by 0.2 percentage points in June.

Housing Market Conditions

• Residential permitting activity decreased 14.7 percent from April 2026 to May 2026 and decreased 14.5 percent from May 2025 to May 2026.

• According to the Federal Housing Finance Agency, home values increased in Q1 of 2026 by 1.0 percent compared to Q4 of 2025. Compared to Q1 of 2025, home values grew 3.4 percent in Q1 of 2026.